Modern-day markets do not arise spontaneously or evolve naturally. Rather they are crafted by individuals, firms, and most of all, by governments. Thus “marketcraft” represents a core function of government comparable to statecraft. This talk builds upon the recognition that all markets are crafted, and then explores the profound implications of this simple observation for analysis and policy. For progressives, the core lesson is that since markets are always governed, then the government can address a wide range of social goals by reforming that governance. For market liberals, the lesson is that if you appreciate the magic of markets, then you should want them to be governed well.

This event will be moderated by Karthik Ramanna, Professor of Business and Public Policy, and Director of the Master of Public Policy, at the Blavatnik School of Government.

This event is free and open to all. 

The talk will be livestreamed and recorded on the Blavatnik School of Government YouTube channel.

Speaker biography

Steven K. Vogel is the ll Han New Professor of Asian Studies and a Professor of Political Science at the University of California, Berkeley. He specializes in the political economy of the advanced industrialized nations, especially Japan.  He is the author of Japan Remodeled: How Government and Industry Are Reforming Japanese Capitalism and Freer Markets, More Rules: Regulatory Reform in Advanced Industrial Countries.